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I don't know that the world will be so awash in surplus capital that it can keep US yields down.

Didn't you want to say keep yields up?

All this money is being given to banks. If it doesn't endup in the accounts of joe plummers where is the demand for CDs going to come from? Maybe the question is can banks like PenFed get money to lend from other banks at about 5%. The bottom line is nobody knows what's going to happen you just have to pick a horse and see what happens. The most we can hope for is to get our money, which presently you can not get back if you had invested in Iceland CDs.
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